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DRD

#DRDGOLD R14.00 a massive level- watch for reversalAfter reaching a high of R24.50 in May 2023, DRD has retraced right back to the change of polarity point and 200 week moving average (green). The level of R14.00 also happens to be the 61.8% fib retracement level joining the swing highs from May 23 and Swing lows from Sep 22. Putting this all together tells me that the 14.00 level is a high probability of leading to a reversal in price and i will be watching this closely in the week ahead for a long entry. Also note the divergence on the RSI which has not formed a lower low in tandem with price.
JSE:DRDLong
by MarcoOlevano
DRD Gold Laggard but ready to shoot up - R24.65W Formation is forming on DRD Gold. It's been a slow process, considering how many gold stocks have been outperforming the index itself. But we are seeing signs that it's nearly DRD Gold time to shine... The price is close to the neckline which needs to breakout. We also need to see a confirmed close and strong move above the 200MA. The target remains at R24.65 ABOUT THE COMPANY 1. Company Overview: DRD Gold Limited is a South African gold mining company. DRDGold Limited, also known as Durban Roodepoort Deep Limited, is a mid-tier, unhedged gold producer and a world leader in surface gold tailings retreatment. The company was established in 1895 in South Africa, making it one of the oldest continuously operating mining companies in South Africa. 2. Operations: DRD Gold's primary operations are centered around gold recovery from surface tailings. The primary business of DRDGold is the reclamation and processing of residual gold from old mine dumps. Their largest operation, Ergo Mining Proprietary Limited (Ergo), has a vast footprint on the western and eastern sides of Johannesburg, a region marked by many years of gold mining. This area is known for having some of the most substantial gold deposits in the world. 3. Focus on Tailings: The company is known for its expertise in the retreatment of gold-bearing surface tailings. 4. Location: The company's operations are likely to be situated in the Witwatersrand Basin in South Africa, a region historically rich in gold deposits.
JSE:DRDLong
by Timonrosso
DRD to benefit from gold uptrendDRDGOLD Limited, a gold mining company, engages in the surface gold tailings retreatment business in South Africa. The company is involved in the exploration, extraction, processing, and smelting activities. It recovers gold from surface tailings in the Witwatersrand basin in Gauteng province. The company was incorporated in 1895 and is headquartered in Johannesburg, South Africa. Fundamentals: Profitable company - positive Operating cashflow - positive Gold uptrend Technical: Trade volume high since March 2023 Resistance target 17.72 is June 2020 high Trending above 50,200 DMA Positive directional movement Risk reward 2.23 Stoploss 9.54
NYSE:DRDLong
by tradingswift
DRD showing mixed signals with bullish bias - Target R15.00Uptrend channel is continuing for DRD Gold Price >200MA - Bullish 21 >7 - Bearish RSI = 50 bearish divergence. Target R15.00 Fundamentals: DRDGOLD, a company, is getting ready to release its results for the last six months of 2022. They are telling shareholders that they think their earnings per share and headline earnings per share will be between 59.5 cents and 68.1 cents per share, which is an increase of 2.6% to 17.4% compared to the same period in the previous year. The increase is mainly due to higher revenue, which went up by 6% to R2,654.3 million. OVERALL: There are mixed signals between technicals and fundamentals, but with the upward channel still intact, my bias remains more bullish.
JSE:DRDLong
by Timonrosso
DRD Gold perfect for the picking to R14.12Cup and Handle has formed on DRD and is looking pretty good. There has been a retracement where it will be testing the uptrend as well as the Brim level on the Cup... Also Moving Averages have crossed up with 7>21>200 Fundamentally, I am bullish on gold in the medium to long term. Despite the interest rate hikes, the chart is neglecting them and is showing the price wants to trend up. Mostly because investors are losing their faith and trust in crypto and they'll be investing in safe havens like gold. If you see here the chart is screaming a buy... Target R14.12
JSE:DRDLong
by Timonrosso
DRD Gold theory of bullish actionYellow vertical lines indicates the changes in market movement when GOLD chart is at trough. The parallel lines indicate a mock charge, after the market traders realize that GOLD is at a low, bullish action follows backed by the DT+ and DT- intercept of the DMI. The above movement occurred twice, indicated with the 2 yellow vertical lines. It is my view that such a third occurrence is possible, (green vertical line at current position) with low GOLD price, action to be confirmed with intercept of DMI. DRD's balance sheet is in good shape and dividend payout shows promise. Please leave comments below.
JSE:DRDLong
by John2506
3
JSE:DRD DRD Gold Large Concerns Taking the OppertunityWith the increase in the gold price and especially the Rand price of gold there is interest in the sector. DRD Gold was not one of the favourite gold stocks for investors but there is a shortage on the market so investors are turning to what's left. With the markup starting, most of the gold stocks are showing ease of movement on low volumes but we are still seeing volume spikes on buying in DRD Gold. As investors see the value in Gold they are buying what they can. As a result, DRD Gold is showing a lot of strength. The latest attempt to pullback was shallow and the stride that has been formed in the markup is steep. With a good volume spike yesterday we can expect the price to markup the next step. See how this interest in DRD Gold has unfolded in the posts below.
JSE:DRDLong
by SteynTrade